Holding Company Condensed Financial Information (Tables)

12 Months Ended

Jun. 30, 2023

Holding Company Condensed Financial Information

Schedule of condensed statements of financial condition

	June 30,
(In Thousands)	2023		2022
Assets
Cash and cash equivalents	$	3,737	$	3,751
Investment in subsidiary		125,949		124,875
Other assets		67		61
	$	129,753	$	128,687
Liabilities and Stockholders’ Equity
Other liabilities	$	66	$	37
Stockholders’ equity		129,687		128,650
	$	129,753	$	128,687

Schedule of condensed statements of operations

	Year Ended June 30,
(In Thousands)	2023		2022
Dividend from the Bank	$	9,500	$	7,500
Interest and other income		3		3
Total income		9,503		7,503
General and administrative expenses		1,267		1,219
Earnings before income taxes and equity in undistributed earnings of the Bank		8,236		6,284
Income tax benefit		(373)		(358)
Earnings before equity in undistributed earnings of the Bank		8,609		6,642
Equity in undistributed earnings of the Bank		(17)		2,451
Net income	$	8,592	$	9,093

Schedule of condensed statements of cash flows

	Year Ended June 30,
(In Thousands)	2023		2022
Cash flow from operating activities:
Net income	$	8,592	$	9,093
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of the Bank		17		(2,451)
Increase in other assets		(6)		(1)
Increase (decrease) in other liabilities		29		(15)
Net cash provided by operating activities		8,632		6,626
Cash flow from financing activities:
Treasury stock purchases		(4,648)		(4,305)
Cash dividends		(3,998)		(4,146)
Net cash used for financing activities		(8,646)		(8,451)
Net decrease in cash during the year		(14)		(1,825)
Cash and cash equivalents at beginning of year		3,751		5,576
Cash and cash equivalents at end of year	$	3,737	$	3,751